Germany's HOCHTIEF (real estate) and ALLIANZ (insurance) have both sold off their 46.2% stake of estate agent's MONACHIA to BAYERISCHE STAEDTE UND WOHNUNGSBAU for EUR 186.6 million. Both companies retain a 2.5% stake in the company, which they are planning to sell to ARBER BAUBETREEUNG later this year for around EUR 10.2 million.